Federal Reserve Chairman Ben Bernanke has stated a desire to prohibit certain practices by the credit card industry that have confused and harmed consumers.

At first, the agency required the industry to more clearly disclose its practices to consumers.

But Mr. Bernanke said Friday: "Based on our review of consumers' response to the board's recent regulatory initiative, it seems clear that improved disclosures alone cannot solve all of the problems consumers face in trying to manage their credit card accounts."

Thus, the Fed is conducting a major crackdown on the credit card industry, aided by Treasury agencies that regulate thrift institutions and credit unions.

The new rules would clarify when card companies can raise interest rates on existing balances. They would forbid finance charges on balances that have been repaid. Late fees would be prohibited if customers were not provided a reasonable amount of time to pay.

It is good that the Fed is acting to establish clearer rules more favorable to consumers throughout the credit card industry. The Fed should have public support in this and strong allies in Congress as well.

Consumers need to take responsibility for their financial transactions. But a revision of the rules is in order, as Mr. Bernanke said, "intended to establish a new baseline for fairness in how credit card plans operate."

Too many Americans have fallen deeply in debt for a variety of reasons. Some of that can be prevented through changes in how the credit card industry operates. There have been unfair and deceptive practices that have harmed consumers struggling in a tough economy. Changes are due.